A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

July 28, 2007

16 comments:

I saw a room full of men with their hammers a-bleedin',I saw a white ladder all covered with water,I saw ten thousand talkers whose tongues were all broken,I saw guns and sharp swords in the hands of young children,And it's a hard, and it's a hard, it's a hard, it's a hard,And it's a hard rain's a-gonna fall.

As of 2007, real estate bubbles are widely believed to exist in many parts of the world, especially in the United States, Britain, Australia, New Zealand, Ireland, Spain, Poland, South Africa, Israel, Norway, Sweden, India, Romania, South Korea, and China. U.S. Federal Reserve Chairman Alan Greenspan said in mid-2005 that "at a minimum, there's a little 'froth' (in the U.S. housing market) … it's hard not to see that there are a lot of local bubbles" [1]. The Economist magazine, writing at the same time, went further, saying "the worldwide rise in house prices is the biggest bubble in history".[2]

Such a great songwriter and such an impossibly horrid singer who apparently gets worse with age! Check the expressions on the tight shots of the orchestra - they are appalled, (while so dutifully plodding through that score, which they could play in their sleep). That said, Dylan epitomizes cool - at least a certain kind of cool - can't take that away from the man. The Great Unwinding sounds like a good song title, by the way. Think I'll go write it.